Business Standard

Central Road and Infrastructure Fund (CRIF) in Fin Min domain: Govt


Press Trust of India New Delhi
Work related to the Central Road and Infrastructure Fund (CRIF) has been taken away from the Ministry of Road Transport and Highways and brought under the domain of the Finance Ministry, according to an official order.
It will now be under the Department of Economic Affairs (DEA), Finance Ministry, the order approved by President Ram Nath Kovind stated.
Budget 2018 amended the Central Road Fund Act, 2000, and renamed the Central Road Fund the Central Road and Infrastructure Fund.
The objective of the amendment was to use proceeds of the road cess under CRIF to finance other infrastructure projects such as waterways, some portion of the railway infrastructure and even social infrastructure, including education institutions and medical colleges.
The government recently constituted a ministerial panel headed by the finance minister to decide on fund allocation for infrastructure projects from the CRIF.
The four-member committee would approve recommendations made by the sub-committee headed by the Economic Affairs secretary on the list of infrastructure projects to be financed from the CIRF, according to a government notification.
Other members of the committee include the Ministers of Road Transport and Highways, Railways and Human Resource Development, it said.
The 15-member sub-committee has secretaries from different ministries who will examine and evaluate proposals received from ministries on infrastructure projects to be financed by the CRIF.
Besides, it will prioritise the list of infrastructure projects each year for financing from the fund.

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First Published: Jul 30 2018 | 11:40 AM IST

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